EAU membership costly to Armenian government

This is necessary to bring the customs regulations and other areas of Armenia, as well as software in line with the EAU requirements, Armenian Epress.am reported referring to the "Haykakan Zhamanak" newspaper.

"According to some estimates, up to $ 70 million is required to conduct these operations at an early stage before the official membership and after it," a statement says. "Around $ 40 million must be provided by the EAU member-states, mainly Russia. The finance ministry does not expect to get this money after the negotiations that lasted several months."

The Armenian government will discuss the issue of getting $ 40 million from another source soon.

"There are no sources yet, but a month remains to obtain the membership," the newspaper reported.

Russia, Belarus and Kazakhstan signed the treaty on the EAU establishment in May and ratified it. The EAU will be established on January 1, 2015.

An agreement on Armenia's joining was signed in Minsk on October 10.

The Eurasian Economic Union (EAU) is an economic union. It will be established on the basis of the Customs Union of Russia, Kazakhstan and Belarus as part of the Eurasian integration from January 1, 2015.